Rs 1,973 Crore Order Book: Aerospace & Defence Electronics Stock Rallies and Hits Upper Circuit After Securing Rs 460.30 Crore Order; Volume Spikes by 2.45 Times on BSE
The company has reduced its debt by around 43 per cent in March 2024.
The Small-Cap Aerospace and Defence stock has rallied and hit the upper circuit today after securing a significant international work order.
DCX Systems Ltd has received an export order from Lockheed Martin Global Inc, USA, worth USD 54,798,120 (approximately Rs 460.30 crores at an exchange rate of 1 USD = Rs 84). The order is expected to be fulfilled within 12 months.
Incorporated in 2011, DCX Systems Ltd is engaged in System Integration and Cable & Wire Harnessing. The company provides solutions that involve integrating various systems and assembling cable and wire harnesses, which are essential for ensuring efficient and reliable connectivity in various applications.
The company is one of the largest Indian Offset Partners for ELTA Systems Limited and Israel Aerospace Industries Limited, System Missiles, and Space Division (collectively known as the "IAI Group"), Israel, catering to the Indian defence market for manufacturing electronic sub-systems, cables, and wire harness assemblies.
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Today, the company’s shares rallied 5 per cent hit the upper circuit, and finally, closed at Rs 346 per share on the BSE. The current market capitalization of DCX Systems stands at Rs 3858 crore.
According to the Quarterly Results, in Q1 FY25, the company reported a revenue of Rs 138.08 crore and an operating loss of Rs 4.81 crore. The company’s net profit stood at Rs 2.94 crore. In FY24, the company reported a revenue of Rs 1424 crore compared to Rs 1254 crore, and a net profit of Rs 76 crore, compared to a profit of Rs 72 crore in the previous year.
Regarding the shareholding pattern, the promoters own 57.13 per cent of the company and the public or retail investors hold 34.24 per cent. Both FIIs and DIIs have decreased their stake in the company.
Disclaimer: The article is for informational purposes only and not investment advice.